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Federal Reserve Bank of Richmond

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Federal Reserve Bank of Richmond

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Federal Reserve Bank of Richmond Reviews

Updated Sep 11, 2023

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Found 190 of over 234 reviews
3.5
58% Recommend to a Friend
48% Approve of CEO

Found 190 of over 234 reviews

3.5
58%
Recommend to a Friend
48%
Approve of CEO
Federal Reserve Bank of Richmond President and Chief Executive Officer Tom Barkin (no image)
Tom Barkin
62 Ratings

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Finance

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Commercial Customer Service Representative

What’s the best way to have a lack of compensation and incentive conversation in your department? I went above and beyond for years doing extra work, organizations etc and nothing has been reflected in pay. I thought my 5 year was going to finally show something but it did not. I’ve inquired about pay but it’s gotten nowhere.

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13 Comments

Finance

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Top Review Highlights by Sentiment

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Ratings by Demographics

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    1. 1.0
      Sep 9, 2023
      Examiner
      Current Employee, more than 8 years
      Richmond, VA
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Great healthcare and retirement. Good people at the team level

      Cons

      While the FRB is great at the team level in supervision, the decisions coming from the executive leadership in Richmond and across the system are driving people out of the door. Return to office policy is short sighted and extremely poorly communication, although conveniently timed so that the bank could score higher on employee surveys. This used to be a great place to get training, now they have even cut that out (except for the D&I training of course). Seemingly every decision made lately is to the detriment of the employee due to some mysterious budget crisis that senior management will blame but not provide details on. Accountability is low throughout the organization. Wages are average at best and people routinely leave for 2x their salaries. O and I' sure there will be 2% increases waiting for us at the end of the year. Poor leadership from the top, unfriendly policies, and sub-par compensation is the reason that the FRB cannot recruit let alone retain 'top talent'. Cuts through out the system and bank have led to more work (HR specifically) being pushed down to the employees and especially managers which has impacted W/L balance. And yeah, the cafeteria is way more expensive now but the have a captive audience because its awful getting in and out of the building for lunch.

      3
      1. 1.0
        Jul 17, 2023
        Information Technology
        Current Employee, more than 5 years
        Richmond, VA
        Recommend
        CEO Approval
        Business Outlook

        Pros

        Unmatched healthcare coverage, and one of the few remaining jobs with a pension. Good amount of annual PTO and federal holidays Pay is above average in some areas

        Cons

        After several years of being told how much of a success remote work was for the bank and how amazing we were doing, Executives have decided to mandate all workers return to the office Tues - Thursday not in a meeting, but via an email with no discussion. Many employee cubicles were given away with promises of never having to return to the office, only to find out they were lied to. Executives REFUSE to listen to their management teams or average workers on Return to Office mandates. Losing talented young employees due to return to office policies and lower starting wages in competitive new technology fields. Laying people off due to bad business practices at the executive levels. Executives threatened to fire people who did not get the Covid vaccine, only to later make it optional again Top heavy with lots of managers and Vice Presidents. Executives out of touch with their workers. They hold an antiquated idea that all workers need to be in an office to effectively perform their job. When polled in surveys they give the illusion that they are listening , but instead have them filled with questions that when answered can be interpreted in either direction.

        3
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      Federal Reserve Bank of Richmond Reviews FAQs

      Federal Reserve Bank of Richmond has an overall rating of 3.5 out of 5, based on over 234 reviews left anonymously by employees. 58% of employees would recommend working at Federal Reserve Bank of Richmond to a friend and 42% have a positive outlook for the business. This rating has decreased by -16% over the last 12 months.

      According to anonymously submitted Glassdoor reviews, Federal Reserve Bank of Richmond employees rate their compensation and benefits as 3.4 out of 5. Find out more about salaries and benefits at Federal Reserve Bank of Richmond. This rating has decreased by -18% over the last 12 months.

      58% of Federal Reserve Bank of Richmond employees would recommend working there to a friend based on Glassdoor reviews. Employees also rated Federal Reserve Bank of Richmond 3.4 out of 5 for work life balance, 3.3 for culture and values and 3.1 for career opportunities.

      According to reviews on Glassdoor, employees commonly mention the pros of working at Federal Reserve Bank of Richmond to be career development, coworkers, benefits and the cons to be senior leadership, management, culture.

      Popular Careers with Federal Reserve Bank of Richmond Job Seekers

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      Interview Tips

      Feel free to post any interview questions you might be asked and I’ll help you compose an effective response :)

      192K

      Underwriter

      6 interview rounds and halfway through. How many times does someone have to answer “so tell me about yourself” does it take to get an offer. Beginning to become exhausting. Tips on remaining enthusiastic through multiple round interviews would be helpful.

      1
      2 Comments

      Watt Roberta

      Sir/Madam would you consider working remotely Please go directly to for more information

      2
      1 Comment

      University of Central Missouri

      Hey I am having an interview at Markel and would like to know what is the interview process over there? And if possible what kind of questions might they ask in a phone call interview.

      1
      0 Comments

      Glassdoor has 234 Federal Reserve Bank of Richmond reviews submitted anonymously by Federal Reserve Bank of Richmond employees. Read employee reviews and ratings on Glassdoor to decide if Federal Reserve Bank of Richmond is right for you.